I've cashed out and currently waiting for the price to plummet further before I buy back!

I think they'll settle at around the price of the electricity required to generate them, plus their usefulness. At the moment this is what, about $6 each?

Hopefully once the price is stable and small, we can start actually using them instead of hoarding / speculating. Their future price depends entirely on how useful they are so if you're a speculator who wanted them to increase in value, you should have invested in developing some killer apps rather than playing the exchanges.

Bitcoin itself is rock solid. It's the 3rd party stuff that needs a lot of work. I think over time there will be more established and trusted 3rd party services with heavy security in place. It's just a matter of time.

I've cashed out and currently waiting for the price to plummet further before I buy back!

I think they'll settle at around the price of the electricity required to generate them, plus their usefulness. At the moment this is what, about $6 each?

Hopefully once the price is stable and small, we can start actually using them instead of hoarding / speculating. Their future price depends entirely on how useful they are so if you're a speculator who wanted them to increase in value, you should have invested in developing some killer apps rather than playing the exchanges.

i think your going to get burned. next thing you know the price is higher then you sold at!

i think your going to get burned. next thing you know the price is higher then you sold at!

Not likely. There's been a downward trend for the last two months, which suggests that some early adopter is slowly cashing out. IMO the market can never reach high, stable prices in this situation.

Also the BTC supply is increasing by 200k a month (deflationary currency my ass, how much is being invested in the BTC economy per month?), mostly going into the hands of miners who are trying to recoup the cost of their mining rigs, with a large number of them living in their parents' basements and not having to pay for electricity.

Also I can't get burned since my entire investment was £30, I now have $300 and have mostly used my BTC for anonymous gambling. Even if I walk away with nothing I've had more than my money's worth in fun

Seeing the tech savvy side of Bitcoin seeming to do a split from the 'general' user base of Bitcoin lately makes me believe there are people behind the scenes who have already lost faith and unfortunately it is just a trickle down from there.

I believe in a lot of the technology behind Bitcoin itself on top of the many benefits to a digital currency, so I'm glad at the very least I do have faith that developers have been on top of making other, better, digital currencies, and I cannot wait to back them. Unless for some reason things switch here, which from what I gather reading many threads, however the old people feel about Bitcoin is already kind of set in their ways, and a lot of people here do not seem to want Bitcoin to be used by everybody, just themselves only.

I hope for BTC survival but do not expect it as of this minute, but who knows what news could be around the next hour to change that.

You're talking about faith in its trading value. Let's be clear. To have faith in bitcoin is another thing.

+1

Bitcoin Core developer [PGP]Warning: For most, coin loss is a larger risk than coin theft. A disk can die any time. Regularly back up your wallet through File → Backup Wallet to an external storage or the (encrypted!) cloud. Use a separate offline wallet for storing larger amounts.

This is healthy for bitcoin , if you take a long term chart and chop the bubble out from may , then everybody would be saying wow 6 + dollars , bitcoin would have tracked steadily upward , giving more time for bitcoin to mature . Things should be far better when the weak hands , speculators have left the room and bitcoin gets back to doing what it does best . Psychology of a bubble , what number are we at?